China Warns US of 'Countermeasures' Against Possible New Tariffs

"That would lift to 10 per cent if Mr Trump followed through with his threats", Dr Oliver said.

On Friday, President Trumpannounced plans for tariffs on $50bn worth of imports from China to "encourage China to change the unfair practices", particularly in the fields of technology and innovation.

While there are no winners in a trade war, the United States is focused on protecting USA technology and sees the tariffs on Chinese tech products as a legitimate action. The move was a response to Trump's decision to add a 25 percent tariff on $50 billion worth of Chinese goods last week.

Trump said his move followed China's decision to raise tariffs on $50 billion in US goods, which came after the White House announced similar tariffs on Chinese goods on Friday.

While it is too early to say just how damaging the dispute will be - the first round of U.S. tariffs on Chinese products does not kick in until July 6 - the escalation of threats has brought the world's two largest economies to the brink of a trade war.

He said the action by Beijing "clearly indicates its determination to keep the United States at a permanent and unfair disadvantage, which is reflected in our massive $376 billion trade imbalance in goods". "You can't be promoting and maximizing the production of energy while also imposing tariffs". But last week, Trump unveiled a revised list that included several categories of chips, raising fears that tariffs could impact the United States technology sector. Russian Federation has calculated the damage of its proposed tariffs to be about $537.6 million, while Oreshkin said Tuesday that the first stage of tariffs against the USA would amount to about $93 million.

Sales of American oil, gas and coal to the Asian giant have been increasing, so much, in fact, that the USA energy sector has been running a bilateral trade surplus. The Dow Jones industrial average fell 287.26 points, or 1.15 percent, to close at 24,700.21. Shares of large US companies with significant overseas business were hit especially hard.

The markets reacted badly with China's Shanghai Composite faring the worst in Asia, ending the day down 3.8%.

China's Commerce Ministry on Tuesday criticized President Trump's latest threat of tariffs, calling it an "act of extreme pressure and blackmail".

It gave no details, but China's lopsided trade balance with the United States means Beijing doesn't import enough American goods to stick with its strategy of matching the scale of Trump's tariff increases. Since China's overall exports to the United States a year ago totalled US$430 billion, according to the USA calculation, Beijing said it would retaliate with both "quantitative and qualitative" measures.

Global stocks dropped Monday on concerns over trade as the US and China scheduled the start of tariffs on each other's goods, and a row over migrants threatened the German government.

3 killed as 5.9-magnitude natural disaster rocks Japan's Osaka
Defence troops joined rescue and relief operations in parts of Osaka, along with special vehicles to deliver clean drinking water. On this occasion, no tsunami warning was triggered and nuclear plants in the region were said to be operating normally.

The ministry said it would fight back with "quantitative and qualitative" measures, suggesting Beijing's countermoves could go beyond tariffs, deepening the rift between the two countries.

Shares of large USA companies with significant overseas business were hit especially hard.

The moves could start to meaningfully slow US growth, economists warn.

The Russell 2000 index fell just 0.22% in midday trade as it's made up of small-cap stocks which are closely tied to the USA economy and have less exposure to the worldwide market.

Russia's Economy Minister, Maxim Oreshkin, said the tariffs would target goods of which the Russians already had domestic equivalents. It has yet to say when that might take effect. US bond yields fell in a flight to safety. The White House is finalizing a list of $16 billion in additional goods it will sanction later. Manufacturing iPhones involves nine companies, located across South Korea, Japan, Germany and the USA, and these companies ship the iPhone components to a company located in China, for assembly into final products and then exported to the United States and the rest of the world.

Trump said he hoped the USA could work out a trade agreement with Canada, saying the two countries had a good relationship but that Americans were being taken advantage of. China countered with its own list of $50 billion in imports from America.

According to investing.com, the dollar index fell about 0.15% to the level of 94.27 at 12:30 and the USDJPY slid about 0.74% to 109.73 after President Trump Annulment about the Tariffs.

But Wall Street has viewed the escalating trade tensions with wariness, fearful they could strangle the economic growth achieved during Trump's watch.

"We're going to take care of our American farmers and our manufacturing jobs", Trump said Tuesday.

But Asia's other trade-reliant economies and companies plugged into China's supply chains are anxious they will suffer collateral damage if world trade slows down, hurting global growth and dampening business confidence.

Here's an exciting one for us, courtesy of Gal Gadot herself: Diana in her full costume, in all the glory and glitz of the 1980s. The Israeli actress will reprise the role for Wonder Woman 1984 , which will also see the return of Chris Pine as Steve Trevor.

For his next release, the Duchess chose a light Sussex slinky MIDI dress with a black small belt at the waist from the Givenchy. There was also a moment of silence that paid tribute to the victims of the Grenfell Tower fire on its one-year anniversary.

Kane and England made the flawless start to the tournament as he tapped home from close range to score after just 11 minutes. The Tottenham Hotspur forward headed home in stoppage time to hand Three Lions a 2-1 win on Monday night.

The Department of Health and Human Services said there are now 11,700 children under its care in 100 shelters across 17 states. She said family separation is a "heartbreaking.issue that could be changed in a moment by the president of the United States".

Brazil began the tournament as one of the early favourites, but their failure to beat Switzerland will dampen some of the hype. Brazil were caught sleeping as Xherdan Shaqiri fired in a corner and Zuber sent a thumping header past goalkeeper Alisson.

On Sunday, Giuliani described Trump's criterion for any pardon: prosecutorial unfairness, in the eyes of the president. Manafort will be in jail for the next three months awaiting trial on charges that now include witness tampering.

Thus, since they are taken into custody as potential criminals, their children are not allowed to stay with them. Nielsen stressed that families seeking asylum at border entries are not breaking the law.

The former Chairman Howard Schultz stepped down earlier in June . "That becomes an area of concern for Starbucks". Starbucks said it expects same-store sales to grow 1% in its third fiscal quarter of 2017.

That man is being hailed a hero by shoppers. "He is a true hero because there would have been more victims", Adams said. Ran out a side emergency exit and attempted to run to my vehicle in the parking lot but heard 4 more pops in the lot.

Authorities said Leiato was in his friend's auto when it crashed and rolled over into some brush on the side of the road. The driver, who was identified as Pedro Chavarin Jr., was transported to a local hospital and then cited for DUI.

US exempts some Japanese goods from steel tariffs
European Commission president Jean-Claude Juncker said duties imposed by the U.S. on the EU go against "all logic and history". In 2017, 17.2m vehicles were sold in the U.S. , compared with 15.6m in the EU and European Free Trade Association countries.

Instagram Launches a New App Called IGTV for Long-Form Video
IGTV is the most recent addition to Instagram's video offerings, following the introduction of Instagram Stories and live video. Instagram has always been a place to connect with the people who inspire, educate and entertain you every day.

Possible Landing Spots for Kawhi Leonard
Weeks after that, Leonard looked for a second opinion to see what he injured in his leg, a move in which the Spurs did not like. There's no doubt the Lakers could use a player like Kawhi Leonard in their lineup if they're ready to go big-time in 2018.

David Warner set for his maiden CPL stint with St. Lucia
He had to miss out on the Indian Premier League (IPL) season 2018 as well but he is soon to make a comeback in the T20 arena. Following the Canadian league, Warner, along with Bancroft, will play in Darwin's limited-overs Strike League.

Gimenez scores to lift Uruguay over Egypt 1-0 in Group A
The hopes of a nation rest on Salah, who scored the penalty which secured Egypt's first World Cup appearance since 1990. Uruguay have won their opening match at a World Cup tournament for the first time since 1970, when they beat Israel.